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Litecoin Technical Analysis: LTC/USD double-digit dancing for bulls

Litecoin price storms ahead, holding big gains of around as much as 10% on Monday.
LTC/USD bulls broke out from a range-block which had been containing the price near-term.
Resistance is seen heading into the $30 mark, around the $29 territory.

Ken Chigbo Independent Analyst

LTC/USD 15-minute chart

Spot rate: 28.05

Relative change: +10.05%

High: 29.16

Low: 25.54

Trend: Bullish

Resistance 1: 28.82, daily pivot point support.

Resistance 2: 29.00, near-term supply area.

Resistance 3: 30.60, 7 December high.

Support 1: 23.85, daily pivot point support.

Support 2: 22.07, daily pivot point support.

Support 3: 20.48, daily pivot point support.

LTC/USD 60-minute chart

Bulls see minor retreat, after running into near-term supply. Demand eyed just below at $25.50.

LTC/USD daily chart

Bulls are enjoying four consecutive sessions in the green, on the road to recovery.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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